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Simple 5 / 8 moving average crossover

  • #521
  • Nov 28, 2007 8:32pm Nov 28, 2007 8:32pm
Quoting Slkosier
Looks like we have crosses on these

EUR/JPY
GBP/JPY
USD/JPY
EUR/GBP

Lets see what happens with these

Slkosier

I jumped in on the Eur/jpy and gbp/jpy....scared of the other 2 right now

Haven't been on this thread for awhile...have the indicators changed or any been added that I should know of? Just the 5/8 ema, right?
  • #522
  • Nov 28, 2007 8:34pm Nov 28, 2007 8:34pm
Quoting hjjohn1
sorry pal, I wasn't joking. I thought it was an innocent question. I was just wondering if it was the same person. Maybe i missed some critical post somewhere.

Clue me in to why you think I'm joking.
Because most questions posted here at FF can be answered by the person asking the question IF he or she is willing to spend a little time looking for the answer. So many people are reluctant to use the "Search" feature.......
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  • #523
  • Nov 28, 2007 8:50pm Nov 28, 2007 8:50pm
Quoting BeachBum
Because most questions posted here at FF can be answered by the person asking the question IF he or she is willing to spend a little time looking for the answer. So many people are reluctant to use the "Search" feature.......
Ha! I didn't know about the "search" feature. Lucky for me you're there to show the way ......
  • #524
  • Nov 28, 2007 9:02pm Nov 28, 2007 9:02pm
Quoting Ash
Just to let everyone know (especially the newbies) I have a open position on EUR/CAD since 11/07. I am up over 1300 PIPS thanks to Peter's system. It works great. I have incorporated the stategy into all of my longer term trades. Good Luck to everyone!


awesome...I just checked out the charts and saw where you got the cross.

Every once in a while you get a sweet one like that.

Are you using trailing stops or manual?
  • #525
  • Nov 28, 2007 9:14pm Nov 28, 2007 9:14pm
Quoting hjjohn1
Ha! I didn't know about the "search" feature. Lucky for me you're there to show the way ......
You're welcome.............
  • #526
  • Nov 28, 2007 9:26pm Nov 28, 2007 9:26pm
Quoting hjjohn1
peterM,

Are you the same as peterFM? I just came across a thread by peterFM in "forex Beginner Q&A" that is **full** of info. I assuming good info. Haven't had time to read it all yet. Just wondering.

HJJ
No, PeterFM is a different person.
  • #527
  • Nov 29, 2007 4:50pm Nov 29, 2007 4:50pm
Question for the "experts" on the 5/8 cross indicator that bonzai put up here...

I've seen where there will be a green/up arrow, and then a few bars later another green/up arrow...without a red/down arrow between them.

Why is that? If it hasn't changed to red/down, why would it show another arrow?

Thanks!
  • #528
  • Dec 6, 2007 10:42pm Dec 6, 2007 10:42pm
Ok folks...get this thread pumpin again!

I added MACD to the 5/8 chart to get verification.

I noticed "headfakes" when arrows came up, and with the default Macd settings, it didn't help any.

So, I changed the MACD settings to 5fast 8slow, but left the sma setting default, and backtesting it looks like a better "helper" than the MACD defaults.

Being somewhat of a NOOB, does this make sense?
  • #529
  • Dec 11, 2007 6:16pm Dec 11, 2007 6:16pm
Well have'nt had much going on for a bit..I had to take a break and get some stuff done around here..Made a few trades this morning for around 40pips...

Slkosier
  • #530
  • Dec 12, 2007 3:06am Dec 12, 2007 3:06am
hey folks.. been away on a sudden impulsive vacation with a friend! Back now.. Saint Berzer.. I have spoke to a lot of people who use the MACD indicator, I have never used it personally as I'm not a big fan of indicators, but that is just me.

Hows trading going folks ? I'm staying out now until next year. I've had a good year and don't want to risk any of it on the thin holiday market.
  • #531
  • Jan 21, 2008 3:47am Jan 21, 2008 3:47am
Well it has been awhile..Took alittle break from the computer....

Have a good cross on the Eur/Usd last Fridayand went for 100 pips

Hope I can get back in the groove after being off for a bit

Slkosier
  • #532
  • Jan 22, 2008 9:37am Jan 22, 2008 9:37am
Quoting Slkosier
Well it has been awhile..Took alittle break from the computer....

Have a good cross on the Eur/Usd last Fridayand went for 100 pips

Hope I can get back in the groove after being off for a bit

Slkosier
welcome back

I've had a break from forex over the last cpl of weeks, been doing some travelling.. I'm gong to start trading again next week.
  • #533
  • Jan 27, 2008 10:36pm Jan 27, 2008 10:36pm
Hi PeterM

Thanks so much for spending so much time sharing your system and for rest of you guys that added your bits and pieces too,I spent this weekend reading through the whole thread and this really looks like a simple and effective system. I am going to give it a try for the next few months or so.

What I like about this method is that one does not have to look at charts all day, so this one may be great for me because of my busy schedule.

I just have a question about the USD/JPY, As I am posting, it looks like the dominent trend on the daily chart is down and looks like there may be a buy in the next few days, Would you take the buy even if the dominent trend is down or would you wait for the following sell signal if there is one because of trend direction?

Current (DEMO) Trades Open

GBP/CHF - BUY - 2.1664
GBP/USD - BUY - 1.9464
EUR/CAD - SELL - 1.4811

Happy Trading

Richrichie
$$$ Richrichie $$$
  • #534
  • Jan 29, 2008 2:33am Jan 29, 2008 2:33am
Quoting richrichie
Hi PeterM

Thanks so much for spending so much time sharing your system and for rest of you guys that added your bits and pieces too,I spent this weekend reading through the whole thread and this really looks like a simple and effective system. I am going to give it a try for the next few months or so.

What I like about this method is that one does not have to look at charts all day, so this one may be great for me because of my busy schedule.

I just have a question about the USD/JPY, As I am posting, it looks like the dominent trend on the daily chart is down and looks like there may be a buy in the next few days, Would you take the buy even if the dominent trend is down or would you wait for the following sell signal if there is one because of trend direction?

Current (DEMO) Trades Open

GBP/CHF - BUY - 2.1664
GBP/USD - BUY - 1.9464
EUR/CAD - SELL - 1.4811

Happy Trading

Richrichie
I have also started doing demo on this method, and so far it looks very good. Last 2 weeks alone I managed to amass about 1200pips doing trades on 3 JPY pairs. And this method has also given me back my life, no more sitting in front of the screen, and enduring the stress...

What I noted also (after 3 weeks of rummaging through the charts), if there has been ranging days, the up/down arrow indicators tend to be very short lived. Also, I use the MACD to confirm convergence.

Back reviewing the charts, the daily charts show a longer term profitable trend. So even if the dominant trend is in the opposite direction to you trade, there is enough pips to be made before a reversal occurs.

I check my trades every morning during the first 3-4 days, just to check on the retracements. After that, the pips are all positive. I set a trailing stop of 200 pips.
  • #535
  • Jan 29, 2008 3:12am Jan 29, 2008 3:12am
That is why I like thie method alot too..You don't have to be at the computer all day.. This method has done really good for me.. Just make sure you follow what the charts say and not your feelings.. I have made that mistake and it really got me bad...

Slkosier

Glad to see people back in here again..Lets keep this thread going
  • #536
  • Edited 11:25am Jan 29, 2008 3:36am | Edited 11:25am
Quoting Slkosier
That is why I like thie method alot too..You don't have to be at the computer all day.. This method has done really good for me.. Just make sure you follow what the charts say and not your feelings.. I have made that mistake and it really got me bad...

Slkosier

Glad to see people back in here again..Lets keep this thread going
Yeah, this is the thread that got me started to profitable trading. Thanks to Peter, yourself and everyone else who contributed and answered my questions!
Humble Lifetime Member
  • #537
  • Jan 29, 2008 11:19am Jan 29, 2008 11:19am
I agree with you Aman Trebor when you say that you take your life back because of daily charts, but whats driving me nuts is the waiting around for the profit on the dailys, ITS SO SLOW!!!

I am so used to the very low time frames to get in and out of a trade quickly but, to tell you the truth it has not been working for me. Trying to do PC support and trade on the go is a mission.

think its early days for me still with this method and have decided to trade this method for a month or two on demo. There have been countless methods I have tried in the past and they worked for a while but then suddenly turn into loss after loss, trade after trade.

Okay, all three trades I entered on monday morning are now in profit. Dont want to get to excited, I am just going to play the system and try my best to leave emotion out of it. I prefer to manually trail stops because one seems to have more control over the trade. I parked a PSAR on the charts today and plan on using it to show me where to trail my stops every day.

Well done on your 1200pips, Aman Trebor


Here is my current trade status:

LONG - GBP/CHF 70 PIPS - Entry@ 2.1664
LONG - GBP/USD 90 PIPS - Entry@ 1.9464
SHORT - EUR/CAD 70 PIPS - Entry@ 1.4811


Eyeing out the USD/JPY, there is almost a signal to buy, its a counter trend trade though!!!!

Happy pipage

Richrichie
$$$ Richrichie $$$
  • #538
  • Jan 29, 2008 11:24am Jan 29, 2008 11:24am
Quoting Slkosier
Glad to see people back in here again..Lets keep this thread going




yip!!!
$$$ Richrichie $$$
  • #539
  • Jan 29, 2008 12:33pm Jan 29, 2008 12:33pm
Quoting richrichie
Eyeing out the USD/JPY, there is almost a signal to buy, its a counter trend trade though!!!!

Going by my "rules", I will not trade UJ. It has been ranging past few days. Same with GJ, dojis for last 3 days.
  • #540
  • Jan 30, 2008 7:24pm Jan 30, 2008 7:24pm
I am watching te Eur/Gbp for a cross going up soon.. Hows everyone else doing?

Slkosier
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